[XMR] rpietila Monero Economics thread

[cAPSLOCK]

Wave 2 consolidation here?  Where is the volume though?  And is this too bullish?  Plus I am about as gifted at EW as I am astro physics.

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[canth]

Great thread, a sudo-economist with a captive audience that will lap it up because it uses words misappropriated from an Introduction to Economics for 1st year Bachelor students.

I once did a few units in sociology, and found that if it appeared that I had swallowed a sociology dictionary, my grades went through the roof.

So tiresome. So easy. No effort required.

You are a moron and add nothing to the conversation. No substance = ignore.

[aminorex]

Where is the volume though? 

I hear that a lot, just before the market clearing price takes a leg up.  In fact, almost every time, I hear that.

[iCEBREAKER]

Great thread, a sudo-economist with a captive audience that will lap it up because it uses words misappropriated from an Introduction to Economics for 1st year Bachelor students.

I once did a few units in sociology, and found that if it appeared that I had swallowed a sociology dictionary, my grades went through the roof.

So tiresome. So easy. No effort required.

Sociology?  That's just warmed over Marxism, a blow-off underwater basket weaving field of pseudo-study best left to scholar-athletes and rich kids who want to party on their way to law school.  I would be embarrassed to get anything but an A, even before making any effort at regurgitating their jargon.  But I'm not surprised it gave you trouble.

The rigor of your Econ 1 class depends on where you go to school.  Mine was designed as a weeder class for intended Econ majors and so was very thorough, while I have no doubt yours was targeted at a much lower caliber of student.   

Please do carry on, it is amusing watching you player hate on the guy with a crypto-castle full of wine, cigars, and blonde ballerinas.   

[cAPSLOCK]

And just to be clear, I am not here for Risto, no disrespect for him.  I think of him as a shrewd investor, a bit of an auto didact, and someone who sees trends ahead of the curve, or someone very lucky.

He also relies on collective conversation about these topics.  It is THAT which I, and I would guess most others, are here for.

I am certainly NOT here for trolls.

Ignored.

[2dogs]

Frozen - going to have to apply an emergency patch and roll back to before the corrupted block.

[Anotheranonlol]

Frozen - going to have to apply an emergency patch and roll back to before the corrupted block.

Luckily XMR/BBR window is still open on polo, and hitbtc

[drawingthesun]

Speaking of short term prices, I am expecting 0.001 - 0.002 range when this gets sorted out.

[pinky]

Speaking of short term prices, I am expecting 0.001 - 0.002 range when this gets sorted out.

We shall see, but I doubt people will panic so hard, after all they knew what they are buying - coin still under development and similiar things happened to other coins. But I might be wrong and this is the end. 

[rpietila]

Speaking of short term prices, I am expecting 0.001 - 0.002 range when this gets sorted out.

Knowing that you are a supporter, you are just talking to your book. Shame on you! 

[drawingthesun]

Speaking of short term prices, I am expecting 0.001 - 0.002 range when this gets sorted out.

Knowing that you are a supporter, you are just talking to your book. Shame on you! 

I imagine that even if this flaw exists throughout all the CryptoNote coins, people will panic when the market unfreezes. Weak hands all around.

[statdude]

If there is such panic, why no significant dumps on hitbtc or Mintpal?

I doubt there is much dumping so long as the dev team rises to the challenge.

I love dumps. Lots of panic buying on the way back up.

[drawingthesun]

If there is such panic, why no significant dumps on hitbtc or Mintpal?

I doubt there is much dumping so long as the dev team rises to the challenge.

I love dumps. Lots of panic buying on the way back up.

I'm surprised that the price on mintpal is remaining stable.

[rpietila]

If there is such panic, why no significant dumps on hitbtc or Mintpal?

I doubt there is much dumping so long as the dev team rises to the challenge.

I love dumps. Lots of panic buying on the way back up.

I'm surprised that the price on mintpal is remaining stable.

In Poloniex alone, there are 5000+ monero accounts, add all the other exchanges to the number. USA is sleeping. This thread is visited by 100 people. Maybe not BTC->XMR people, but everyone else coming to Monero, has seen forks before and don't care.

[NewLiberty]

If there is such panic, why no significant dumps on hitbtc or Mintpal?

I doubt there is much dumping so long as the dev team rises to the challenge.

I love dumps. Lots of panic buying on the way back up.

I'm surprised that the price on mintpal is remaining stable.

In Poloniex alone, there are 5000+ monero accounts, add all the other exchanges to the number. USA is sleeping. This thread is visited by 100 people. Maybe not BTC->XMR people, but everyone else coming to Monero, has seen forks before and don't care.

Yes, not so worried about the fork, Monero forks/orphans very frequently given the fast blocks, this is the longest fork tong by a big margin, >30 some blocks forked.
It may stimulate some interesting developments in the code for fast block resolution and consolidation.

It would be a good development if fork consolidation were advanced. 
For example if Dead fork tx that were not respent in the live fork before consolidation time may be retransmitted and spent within the good fork without manual intervention.

[infofront]

Most Monero investors at this stage are seasoned cryptocurrency veterans I believe. I doubt many will panic sell over a fork.

If this was DogeCoin circa Feb., 2014, with a lot of relatively mainstream involvement, it might crash. Monero, OTOH, hasn't even broken the top 10 on coinmarketcap.com yet. We may as well be a fringe enthusiast cult.

[Okurkabinladin]

Most Monero investors at this stage are seasoned cryptocurrency veterans I believe. I doubt many will panic sell over a fork.

If this was DogeCoin circa Feb., 2014, with a lot of relatively mainstream involvement, it might crash. Monero, OTOH, hasn't even broken the top 10 on coinmarketcap.com yet. We may as well be a fringe enthusiast cult.

Actually, that exactly what we are right now   any ideas on when XMR will be unfrozen?

EDIT: Drawingthesun is right, so what, if majority of XMR holders are bitcoin veterans? Same can be said about virtually any other crypto, that doesn´t preclude volatility, especially in market this small. I´m still very bullish on monero, just not short term.

[aminorex]

Most Monero investors at this stage are seasoned cryptocurrency veterans I believe. I doubt many will panic sell over a fork.

If this was DogeCoin circa Feb., 2014, with a lot of relatively mainstream involvement, it might crash. Monero, OTOH, hasn't even broken the top 10 on coinmarketcap.com yet. We may as well be a fringe enthusiast cult.

Actually, that exactly what we are right now   any ideas on when XMR will be unfrozen?

EDIT: Drawingthesun is right, so what, if majority of XMR holders are bitcoin veterans? Same can be said about virtually any other crypto, that doesn´t preclude volatility, especially in market this small. I´m still very bullish on monero, just not short term.

xmr has been trading in the xmr-denominated markets on poloniex, and against btc on mintpal, but price has not moved significantly.

i don't think this attack will even interrupt the uptrend in any meaningful way.  it may even be a catapult, like SR bust was for BTC.

[rpietila]

xmr has been trading in the xmr-denominated markets on poloniex, and against btc on mintpal, but price has not moved significantly.

i don't think this attack will even interrupt the uptrend in any meaningful way.  it may even be a catapult, like SR bust was for BTC.

I did not think that my respect for the Monero core team could rise any more,

but last night certainly proved me wrong:


Thank you eizh, fluffypony, David, tacotime, NoodleDoodle, othe and smooth!

[darlidada]

xmr has been trading in the xmr-denominated markets on poloniex, and against btc on mintpal, but price has not moved significantly.

i don't think this attack will even interrupt the uptrend in any meaningful way.  it may even be a catapult, like SR bust was for BTC.

I did not think that my respect for the Monero core team could rise any more,

but last night certainly proved me wrong:


Thank you eizh, fluffypony, David, tacotime, NoodleDoodle, othe and smooth!

+1. the fact that xmr devs fixed a bug that extended to every cryptonote coins is incredibly bullish. we should remember this day and celebrate it next year. until then, i'll make a donation within the next 2 days. thank you.